IDBI Bank Q2 Results: Profit Nearly Doubles, Asset Quality Improves

IDBI Bank reported a 98% year-on-year rise in net profit for the September quarter to Rs 3,627 crore, compared with Rs 1,836 crore a year earlier, according to its notification to the exhanges on Saturday.

Net interest income declined 15% year-on-year to Rs 3,285 crore from Rs 3,875 crore. Operating profit, however, rose 17% to Rs 3,523 crore from Rs 3,006 crore.

Gross non-performing assets improved to 2.65% from 2.93% in the previous quarter. Net NPA remained flat at 0.21%.

• Net Profit up 98% At Rs 3,627 crore versus Rs 1,836 crore

• NII down 15% At Rs 3,285 crore versus Rs 3,875 crore

• Operating Profit up 17% At Rs 3,523 crore versus Rs 3,006 crore

• Gross NPA at 2.65% versus 2.93%

• Net NPA flat at 0.21%